Singapore is not an Islamic country, there is no party like PAS who would like to ban gambling! Beside PAS, there are also other Islamic groups who would like to do the same.
17/4/2014 - Share buy back 14,400 shares 14/4/2013 - Interim dividend Ex-date Third interim dividend via a share dividend distribution of approximately 30.68 million Treasury Shares on the basis of one(1)Treasury Share for every Forty Three (43) ordinary shares held, fractions of Treasury Shares to be disregarded.
Share dividend = Left pocket to the right. After all its efforts in accumulating treasury shares which has positive impact for EPS, it distributes - a waste in my opinion. Looks like statusquo.
Hence share price hardly budged. If B.Toto had declared dividend say 8cts, the share price would have certainly increased
The share dividend is from the treasury shares accumulated from earlier share buy back, the value of the share dividend is based on the average cost of the share buy back which is RM4.08 as at 16 March (see section A4, page 8 of Jan14 quarter report). (4.08 / 43 = 0.095)
Although Berjaya Phi, it is still a subsidiary of Btotal and may use the money from Btotal. That money can be used to pay dividend.. i am not sure what is the purpose of the investment as it is not core business of Btotal.
Toto doesn't have growth prospective. U won't have a nation that have increasing tendency in 4D and jackpot. Tats way Toto profit doesn't show growing trend. The only way to have growth is to venture into other business.
KinSoon Kok, I accumulated most of my BjToto shares when it drop sharply in 2002 due to intercompany loan issue, with an average bought price of around RM3. After that I sold around 16% of it when its price rose & hold the rest until now. So far I have received so much dividends & capital repayment that my net cost (total buy – total sell – total income) is negative years ago.
jpleow, although % of share bought back is small, it involved a huge cash outlay - a big drain on cash hence difficult to pay dividends. Today BToto buy some more shares, restarting their campaign - tiresome indeed.
KinSoon Kok - agreed on the growth perspective since the cash flows are rather fixed. However cash flow & growth can increase with inflation - do the math if cost of tickets and winning prices are raised by 10%, profit will also increase by 10%. Saw HROwen financials - it's barely making money.
Agreed with Leesk, now all of a sudden we are exposed to the luxury car market which we did not bargain for. Perhaps next would be construction business?? Money could have been pumped up from Berjaya Phi and then to B.toto shareholders through dividends.
I wish that B.Toto can be like Batu Kawan. They buy-back shares slowly but surely. They never sell them back or give out as dividends. To date 5.93% has been bought back.
At low interest rate, that's the best thing to do. It has after all issued bonds (despite being profitable)
If treasury shares in B.Toto can reach close to 10%, then we will have a lot of dividends (& capital gains) to enjoy.
21/2/2014 - Share buyback again - 382,700 shares between $3.88 - $3.90 Total accumulated 32,828,972 shares.
Someone working in Sport Toto told me there will be announcement soon pending approval. Something they all have been apply for long time. Once approve, BJToto share will fly very high. That is why BJToto always share buy back. So please hold on and don't sell.
Share buy back again 03/21/2014 - 382,700 shares between $3.88 - $3.90. Total accumulated - 32,828,792 shares....estimated cost $128 millions. There must be a reason why non stop share buy back?
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Posted by cherry tomato > 2014-03-16 15:19 | Report Abuse
high dy also can cover the loss unless can accumulate more to average down the price.